By Bob Stark, Agricultural Economist
The 2014 Arkansas Cash Soybean market lost 10 cents over the end of July weekend and opened August with a statewide average price on Monday of $9.37. Trading for the week began with solid gains through Wednesday, suffered a Thursday correction, and regained its correction losses and more on Friday to end the week. The closing price for the week was $9.60, an overall gain of 13 cents from the previous Friday closing mark (Figure 1). High individual daily market quote of the past week was $9.780 at Pendleton on Friday. The market failed to have at least one individual quote at or above $10.00 for the first time since mid-June. Low daily quote of the week occurred on Monday with Pine Bluff reporting a price of $9.06. The Friday reported closing prices ranged from a $9.33 low at Pine Bluff to the high of $9.78 at Pendleton. The closing range of 45 cents was 11 cents narrower than the previous week with five market participants entering quotes for most of the week.
The 2015 soybean crop booking market improved more than the old crop market this past week of trading. New beans lost 4 cents over the weekend break and opened trading on Monday at $9.19. Market price climbed steadily through Wednesday before suffering a 9 cent correction on Thursday. The market regained its correction losses and more on Friday to end the week at a statewide average of $9.48, an overall 25 cent improvement from the previous week close (Figure 2).
High individual market quote for the week was $9.73 at Old Town/Elaine on Friday. Low market quote for the week occurred on Monday with Des Arc at $9.01. All of the fourteen regular state markets continued to provide new crop quotes. End-of-the-week quotes saw closing day prices ranging from a low of $9.28 at Des Arc to the high of $9.73 at Old Town/Elaine. The ending quotes represent a range of 45 cents, a 3 cent widening from the closing quotes range of the previous week.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)